Energy dependance is costly.
The countries that still are selling gas to Europe like the US or Norway do experience the other side of this, where they get more paid for delivering the same things.
This makes other forms of energy more economical, which is how the market should work in this case. The issue is that the market is abd at handling such sudden shocks, but the Ukraine war should have been a warning to European countries.
Canada. Their crude is more expensive to refine, but they are actively looking for new trade partners. The infrastructure to do this does not exist and would take massive investment and significant time to build, but both sides of that might be willing. I believe there is interest in working out paper swaps as a shorter term option.
That is very unpopular for the people that live on top of it. The earthquakes and the cost for the government to reimburse people affected by them is the main reason why Netherland stopped operating it.
Here is a good video that covers these reimbursements and the political side:
https://youtu.be/e2gqBW0j-VU
Best would be for europe to seize norways remaining oil and gas field for europe's international security and use their soveign fund to compensate rest of europe.
Didn't Putin do brilliantly at weakening Europe - amongst others. Unfortunately Russia seems to be near pauper status now. Will Putin carry on in his gilded castle or what? Poor Rusiia.
Worth-Wonder-7386 | an hour ago
Energy dependance is costly. The countries that still are selling gas to Europe like the US or Norway do experience the other side of this, where they get more paid for delivering the same things. This makes other forms of energy more economical, which is how the market should work in this case. The issue is that the market is abd at handling such sudden shocks, but the Ukraine war should have been a warning to European countries.
[OP] diwalibonus | an hour ago
If they want oil and gas the options are
Russia(Putin who hates and blackmails Europe)
USA(Trump who hates and blackmails Europe)
Middle East(where there could be a new Forever War anytime)
What can they do?
Worldly-Charity-9737 | an hour ago
Buy from all three and hope for the best
youngishgeezer | 54 minutes ago
Double down on locally produced energy. Improve efficiency.
fa1afel | 47 minutes ago
Canada. Their crude is more expensive to refine, but they are actively looking for new trade partners. The infrastructure to do this does not exist and would take massive investment and significant time to build, but both sides of that might be willing. I believe there is interest in working out paper swaps as a shorter term option.
Euiop741852 | 51 minutes ago
They have a big gas field at Groningen, maybe look into reopening that
Worth-Wonder-7386 | 20 minutes ago
That is very unpopular for the people that live on top of it. The earthquakes and the cost for the government to reimburse people affected by them is the main reason why Netherland stopped operating it. Here is a good video that covers these reimbursements and the political side: https://youtu.be/e2gqBW0j-VU
fromkatain | 32 minutes ago
Best would be for europe to seize norways remaining oil and gas field for europe's international security and use their soveign fund to compensate rest of europe.
Counterpoint-4 | an hour ago
Didn't Putin do brilliantly at weakening Europe - amongst others. Unfortunately Russia seems to be near pauper status now. Will Putin carry on in his gilded castle or what? Poor Rusiia.